Zelira Therapeutics ( (AU:ZLD) ) just unveiled an announcement.
Zelira Therapeutics has announced the full conversion of $USD3.25 million in Convertible Notes into equity within its HOPE® 1 SPV, which supports the clinical and regulatory development of treatments for Autism Spectrum Disorder. This conversion aligns investor interests, eliminates debt obligations, and strengthens the SPV’s capital structure, positioning it well for future institutional capital raises. The company has made significant progress in its clinical trial program, having completed a Pre-IND meeting with the U.S. FDA, which confirmed the appropriateness of targeting Phelan-McDermid Syndrome, a rare subset of Autism, for study. Zelira is now focused on submitting an IND to the FDA, initiating Phase 1 clinical trials, and filing for Orphan Drug Designation to leverage regulatory incentives.
More about Zelira Therapeutics
Zelira Therapeutics is a global leader in cannabinoid-based biopharmaceuticals, focusing on developing treatments for conditions such as Autism Spectrum Disorder. The company is involved in clinical trials and commercialization efforts, particularly through its HOPE® 1 Special Purpose Vehicle (SPV), which targets the U.S. market.
YTD Price Performance: -22.34%
Average Trading Volume: 279
Technical Sentiment Signal: Buy
Current Market Cap: $2.67M
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